Mumbai: The government has appointed Shirish Chandra Murmu as Deputy Governor of the Reserve Bank of India (RBI) for a three-year term.Â
The Appointments Committee of the Cabinet cleared his appointment, which will take effect from October 9, according to an official notice.
Murmu, who is currently serving as Executive Director at the RBI, will succeed Rajeshwar Rao. Rao’s term as Deputy Governor ends on October 8. He has been in charge of banking regulation and other key portfolios.
The RBI has four deputy governors who oversee areas such as monetary policy, banking regulation, supervision, and financial markets. The specific departments that Murmu will handle have not yet been announced.Â
His appointment continues the central bank’s leadership transition.
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